Halliburton (NYSE:HAL) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Halliburton (NYSE:HAL) had its target price upped by research analysts at The Goldman Sachs Group from $40.00 to $44.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The brokerage presently has a “buy” rating on the oilfield services company’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 28.99% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Argus increased their price target on Halliburton from $31.00 to $39.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Weiss Ratings restated a “hold (c-)” rating on shares of Halliburton in a report on Monday, December 29th. Piper Sandler raised their target price on Halliburton from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Wall Street Zen lowered Halliburton from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Finally, Citigroup boosted their price target on shares of Halliburton from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.38.

Halliburton Stock Performance

HAL opened at $34.11 on Wednesday. Halliburton has a twelve month low of $18.72 and a twelve month high of $37.03. The firm has a market capitalization of $28.57 billion, a PE ratio of 22.59, a PEG ratio of 2.03 and a beta of 0.73. The company has a current ratio of 2.04, a quick ratio of 1.51 and a debt-to-equity ratio of 0.68. The firm’s 50-day moving average price is $33.30 and its 200 day moving average price is $27.95.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Wednesday, January 21st. The oilfield services company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.14. The company had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.39 billion. Halliburton had a net margin of 5.78% and a return on equity of 19.77%. Halliburton’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 EPS. As a group, sell-side analysts expect that Halliburton will post 2.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Margaret Katherine Banks sold 2,600 shares of the company’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $34.17, for a total value of $88,842.00. Following the transaction, the director owned 14,043 shares of the company’s stock, valued at $479,849.31. This represents a 15.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Van H. Beckwith sold 54,348 shares of the stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $34.96, for a total value of $1,900,006.08. Following the transaction, the executive vice president owned 344,535 shares of the company’s stock, valued at approximately $12,044,943.60. This represents a 13.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 328,148 shares of company stock worth $11,199,000 over the last ninety days. Company insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. acquired a new position in shares of Halliburton in the 3rd quarter worth approximately $25,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Halliburton during the 4th quarter worth approximately $25,000. Kelleher Financial Advisors acquired a new stake in Halliburton in the 3rd quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. acquired a new stake in Halliburton in the 2nd quarter valued at approximately $25,000. Finally, Zions Bancorporation National Association UT raised its position in Halliburton by 196.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock valued at $28,000 after purchasing an additional 650 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

About Halliburton

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.